Apple has finally made iTunes movie rentals official, as Steve Jobs made the announcement in his MacWorld 2008 keynote address. The studios taking part in the festivities include Disney, MGM, Touchstone, Miramax, Lions Gate, Warner Brothers, Fox, Paramount, Universal, and Sony. Rentals will be available starting today alongside an iTunes 7.6 update, and you can expect 1,000 movies to be available be the end of February. Rentals will cost $2.99 USD for a standard movie, $3.99 for new releases. If you want the HD version, it will cost you $1.00 more. You have 30 days to begin watching the movie, and once you’ve started, you get 24 hours to watch it as many times as you like. Rented movies can be transferred to a video-capable iPod or iPhone, and can also be viewed on Apple TV.